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CNN
Dec 27, 2012 9:00am PST
, the spending cuts known as the fiscal cliff, but we are four days away from another financial challenge. that is the debt ceiling. now, compared to reaching your limit on your credit card essentially, treasury secretary timothy geithner said the u.s. is going to reach its borrowing limit on monday. he says, quote, i am writing to inform you that the statutory debt limit will be reached on december 31st, 2012, and to notify you that the treasury department will shortly begin taking certain extraordinary measures authorized by law to temporarily postpone the date that the united states would otherwise default on its legal obligations. there is wiggle room. that is equivalent to two months of borrowing. >>> now to the other financial crisis that could mean higher taxes for all of us. will congress send the country over the fiscal cliff or will they come up with some sort of deal and hit the brakes? the senate returned today hopefully to come up with some kind of deal. dana bash is flling this on capitol hill. i imagine we're all working over the holidays and i fess we're going to be workin
CNBC
Dec 28, 2012 2:00pm EST
the medicare fiscal cliff. we need to do both, and the president has to lead it. if he does, i'm ready to work with him and so are a lot of other republicans and democrats. >> so, mandy, a lot of different proposals floating around here in washington. a lot of ideas. a lot of attempts to read the minds of those key people in the room. >> eamon, is it true that some senators have left the boat and are fishing on their own for a deal? >> yeah. there are a couple of different proposals floating around out there now. you always have it in the senate, gangs of two, three, four, five senators put out their own ideas. at this late hour what the markets should focus on are the five leaders and the president that will be in that room. anything coming from any other senator is probably not fully baked enough to get through here at this point. it has to come from the leadership. >> eamon, thank you very much. appreciate it. >>> higher taxes is part of the cliff story. our next guest says there are other concerns that go along with it, credit and rating. andy brunner, head of international fixed income an
CNBC
Dec 24, 2012 12:00pm EST
of the tax situation and pending cuts, do you see anything from the fiscal cliff? >> i think the average consumer doesn't understand the fiscal cliff but i think they watch the news and understand something is wrong and people are very worried about it. i think that the way things stand now, if we do go over the cliff, it is going to be most of an impact for lower end consumer. i think the higher end consumer still has an ability to spend. certainly maybe a bit more cognizant of impaktd opinion but their ability to spend on discretionary categories, it is not hammered to the extent it'll cause major pull back in spending and categories of things we cover. maybe they won't buy boats and homes, but i think sweaters and watches will sell good in that category. >> that is certainly a big, big worry but again a worry for lower end consumer. more so than the higher end consumer. if you look at employment trends, high end versus low end, it is a very different story and i think that the lower end consumer is the consumer i'm most worried about if we good over the fiscal cliff. >> what do you th
CNBC
Dec 28, 2012 6:00am EST
with congressional leaders at 3:00 p.m. eastern time today in a last ditch effort to avoid the fiscal cliff. the house majority leader eric cantor is now telling members to be prepared to work through january 2nd. both sides still far apart, however, on taxes and spending cuts. senate majority leader harry reid says prospects for a deal by monday are still unlikely. there was a lot of movement, motion for not a lot of action. >> where were you yesterday? >> i was here. we were together. >> were we ever with our -- no. but there were duelling senate leaders just -- first mcconnell came on. and he said -- did you see either one of those? >> i did. >> did you see harry reid? >> there's no chance of -- >> but if you think -- i want to rise above. there was so little of anything close to that yesterday other than just the -- i mean, people at home must be like, it's the endless blaming and finger pointing and, you know, when one side says it's all the other side's fault and all the other side comes on and says people at home aren't going, wow, i believe you, harry. or i believe i, mitch. they're
Search Results 0 to 3 of about 4